ECB’s governing council votes to halt issuing the notes on the grounds that they are too often used to finance crimeThe European Central Bank has phased out the 500 (£400) note,nicknamed the “Bin Laden” because of its association with money-laundering and terror financing – and because while many people know what it looks like, few maintain ever seen one. The ECB announced on Wednesday that the fuchsia-coloured bills, and the highest denomination of the eurozone’s seven banknotes,would no longer be printed or distributed from 2018, on the grounds that they are too often used to finance crime. Continue reading...
Source: theguardian.com